TBILISI: Certain changes are taking place in climate change projects that make them quite suitable for financing. ADB Vice President for Market Solutions Bhargav Dasgupta told reporters, Trend reports.

“To achieve a favorable financing outcome, I don’t believe concessional capital financing is required. We select projects to finance in the most emerging areas. They are new technologies that are very important in the long term, but the business is not scaling to a level where the costs have come down to make them commercially viable without some support,” he said.

He noted that, if you look at solar panels 10 years ago, they were not commercially viable without some consumerization.

“So when I talk about profitability, we are still interested in financing these projects,” he added.

To note, the theme for the 57th Annual Meeting to be held from 2 through 5 May, is ‘Bridge to the Future’.

The opening session of the Board of Governors will take place on May 4. The Opening Session marks the official start of
the Annual Meeting. It is a high-profile event attended by the Guest of Honor from the host country. Remarks will be made by ADB President Masatsugu Asakawa the Minister of Finance of Georgia and Chair of the ADB Board of Governors, Lasha Khutsishvili.

The Annual Meeting allows ADB Governors to discuss Asia-Pacific development issues. The meeting attracts several thousand finance ministers, central bank governors, senior government officials, private sector members, foreign and civil society groups, youth, academia, and the media.

Source: Trend News Agency